Harris makes a ‘capitalist’ pitch to boost the economy – Los Angeles Times
Harris Boosts Economy with Capitalist Pitch as Trump Digs Deeper into Populism
Vice President Kamala Harris on Wednesday made a strong pitch to boost the economy by embracing both pro-business and middle-class-friendly policies. Speaking at the Economic Club of Pittsburgh, Harris outlined her economic vision while responding to Republican nominee Donald Trump’s criticisms. Trump, who had earlier branded her policies as “communist,” faced a sharp rebuttal from Harris, who promised a pragmatic approach to fostering economic growth.
Harris emphasized that her approach would combine fairness, dignity, and opportunity. She said she was open to adopting “good ideas from wherever they come,” highlighting her commitment to doubling the number of people in registered apprenticeships and supporting more homeownership. In the battleground state of Pennsylvania, Harris aimed to make her case as a candidate who could bridge the gap between business interests and the needs of everyday Americans.
Around the same time, Trump gave his own economic speech at a furnituremaker in Mint Hill, North Carolina, where he doubled down on his populist rhetoric. Trump called for imposing tariffs that would, in his words, cause an “exodus” of auto factory jobs from countries like Japan, Germany, and South Korea. He further promised to establish a special lower tax rate for U.S. manufacturers, positioning himself as the candidate of economic nationalism.
These contrasting visions for the economy were on full display as both candidates sharpened their messages for voters. Trump’s focus remained on U.S. dominance over foreign competitors, promising harsh tariffs and tax cuts for domestic manufacturers. Meanwhile, Harris focused on supporting the middle class and entrepreneurs, emphasizing that her policies would grow the economy in a way that benefits all.
In an interview with MSNBC later that day, Harris responded to Trump’s call for sweeping tariffs, criticizing the approach as reckless. “You don’t just throw around the idea of tariffs across the board,” Harris remarked. She questioned Trump’s seriousness on key issues, reaffirming her commitment to raising corporate tax rates to ensure fairness. “I’m not mad at anyone for achieving success, but everyone should pay their fair share,” Harris said, signaling her desire for economic equity.
Trump, on the other hand, sought to appeal to blue-collar workers with his promise to lower the corporate tax rate from 21% to 15% for companies that manufacture domestically. He also hinted that his aggressive stance on tariffs had made him a target internationally, claiming that leaders in other countries “want to kill me” because of his policies.
As the 2024 election approaches, both candidates are keenly aware that the economy remains a top concern for voters. Polls consistently show that economic issues are one of the most significant factors influencing voter decisions. A recent AP-NORC poll showed neither Harris nor Trump with a decisive edge on economic matters, further highlighting the importance of their dueling economic messages.
Both candidates are trying to convince the public that their approach will make the U.S. the global economic leader, not China. Trump has embraced a populist image, promising tax cuts and reduced regulations, while Harris has positioned herself as a capitalist with a focus on fairness and sustainability. Both accuse the other of planning tax hikes on the middle class, making it clear that the battle over economic policy will be central to the campaign.
Harris also took aim at Trump’s plan for a 20% tariff on imports, which she labeled a “national sales tax.” She argued that this would lead to higher prices for everyday goods like coffee, electronics, and clothing. Her campaign frequently references an analysis that suggests such a tariff would cost the average middle-class family around $4,000 annually. For many families, this would effectively increase their total federal tax burden by 50%, a blow that Harris said voters should not have to bear.
Trump continued his populist rhetoric by promising a host of tax cuts, including eliminating taxes on tips, Social Security, and overtime pay. He also floated the idea of low-tax zones on federal lands to attract employers and suggested eliminating the cap on state and local tax deductions—a policy he had introduced in 2017.
In a push to attract business leaders, Harris secured the backing of billionaire Mark Cuban, who praised her for offering clear and detailed policies that businesses could understand, even if they disagreed. “I want a president that for business goes into details,” Cuban said during a Tuesday call with reporters organized by the Harris campaign.
Harris’s campaign is attempting to show that business leaders support her despite Trump’s populist appeals. Her plan includes $100 billion in tax breaks and incentives to boost U.S. manufacturing and emerging technologies. A forthcoming brochure will provide more details on her vision for the economy, but it is clear that she is aiming to strike a balance between government intervention and private sector growth.
As the race heats up, the candidates are making their final economic pitches to voters. Trump recently dubbed Harris the “tax queen,” accusing her of wanting to raise taxes on the middle class. In response, Harris pointed out that Trump’s tariffs would have a similar effect, increasing costs for everyday Americans. With inflation concerns easing and the Federal Reserve cutting interest rates, the focus is shifting to long-term economic policies. Both Harris and Trump are eager to convince voters that their plan is the best path forward for the country.
In the coming weeks, the economy will remain a central issue as both candidates try to distinguish themselves. Harris is banking on her message of fairness and support for the middle class, while Trump continues to push a populist agenda focused on protecting American industries from foreign competition.
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